China's JD Health rises on demand bets amid respiratory illness spike

JD Health International

19/01/2024 04:23

** Shares of China's JD Health International  6618.HK  climb
3.6% to HK$28.85, on track for biggest one-day pct gain since
Dec 28 
    ** Stock biggest pct gainer in Hang Seng Index  .HSI  and
Hang Seng China Enterprises Index  .HSCE ; second biggest in
Hang Seng Tech Index  .HSTECH 
    ** HSBC maintains "buy" rating on JD Health and lifts TP to
HK$48 from HK$47.50 on better-than-expected top-line outlook for
4Q23 and 1Q24 as recent wave of respiratory illness in China
bolstered demand; also cites firm's plans to expand offline
pharmacy footprint 
    ** Nomura keeps "buy" on stock, saying 2H23 results likely
above estimates on increased 4Q revenue due to higher demand for
pharmaceuticals amid spike in influenza cases 
    ** Hong Kong stock of JD.com slips 0.9% 
    ** Hang Seng Tech Index  .HSTECH  and Hang Seng China
Enterprises Index  .HSCE  both slip 0.1% while Hang Seng Index
 .HSI  adds 0.2%
    ** Stock down ~27% YTD 

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))